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A recent Forbes article dissects the consequences of fast fashion retailers on the retail market. In a world where everyone strives for better, quicker, newer, cheaper, more efficient, and more innovative, we’re left with the scintillating question: why pay $350.00 for something we can get for $25.00?
Fast-fashion is generally aimed at teens and young adults because this age range often includes unemployed, starving students who can’t afford expensive clothing. It also encompasses a time when young women want all the latest and greatest trends. While having a closet filled with designer goods may be great, it’s not always realistic! Fast-fashion gives women the opportunity to wear the latest trends without the cost that comes with buying high quality items with designer names attached.
When hunting for a good deal, a person is faced with two options. They can either go to a mid to luxury store and search through a random sale rack, or go to a fast-fashion store where almost every item is in the affordable range. Have you ever gone into a luxury store and fallen in love with an item just before flipping the tag around to see that it costs a thousand dollars? Remember that sinking feeling in your heart when you realized you had to walk out of the store without the item of your dreams? We’ve all been there. Fast-fashion retailers offer the most popular remedy for this crisis.
Walk into Zara and you’ll see the hottest trends and looks from the latest runway shows. The turnover for fast-fashion stores is incredible. My favorite part is walking into the same store two to three weeks later and seeing a whole new collection of merchandise! Having fresh options is key. This is definitely where fast-fashion retailers excel.
What’s your opinion on fast-fashion? Would you rather buy less and buy high quality designer labels, or buy more items more often and sacrifice quality? We’d love to hear about your shopping strategies; share with us in the comments!
By: Jaclyn Parker
A recent Forbes article predicts five key technology trends that will saturate the retail market by 2020. We’re moving in a direction that will make our shopping experiences more and more convenient and accessible. While physical stores are definitely here to stay for at least the foreseeable future, the way that we shop in stores is bound to change! The first prediction states that retail stores will embrace showrooming. Showrooming is when customers use retail stores as places to simply look at and try-on items before going online to make the actual purchase at a more competitive price.
So what’s the coolest part about this trend? Retailers will use beacons, a type of sensor that gives the retailer information about which items or sections of the store we were lingering around for a while, so that the retailer can suggest products for us to buy online that are tailored to our individual interests. This is just one example of the next trend: more analytics in stores.
Besides using the beacons, stores will have technology to track our buying habits and product preferences by analyzing our actions in store. The next technology trend goes far beyond measuring just our in-store movements. Sensory technology will soon help retailers detect our emotional responses to the products, signs, and advertisements that we see in store.
To make our life a bit easier, payments are expected to become completely transparent with mobile payment options and pre-pay options that will allow us to go in the store, pick up the items that we’ve already bought through our smartphone, and walk out with no checkout process. Just imagine how easy it would be to shop!
Last but not least, sources predict that the role of sales associates will shift because many of their tasks will become automated. Store navigation, self-checkout, and product information will be made available to customers through technology devices, therefore freeing up sales associates to focus on building profitable relationships with customers.
While some of these technology trends may seem unbelievable at first, a lot can change in five years. With the increasing trend of mobile and online shopping, there’s no way that retail stores can afford to stay stagnant in their retail approach. I am all for making the shopping experience as convenient and seamless as possible! What’s your new favorite shopping technology trend?
By: Jaclyn Parker